Chile's e-commerce sales reached US$433 million! Beauty products are the best sellers

“Cyber ​​Monday” is an e-commerce promotion event organized by the Santiago Chamber of Commerce (CCS) in Chile, usually held around October every year.

This year's "Cyber ​​Monday" was held from Monday, October 4 to October 7. According to statistics, sales of about 60 million US dollars were achieved in the first 12 hours of "Cyber ​​Monday". Sales on the first day increased by about 25% year-on-year to 158 million US dollars.

Total sales during the promotion increased by 44% year-on-year to US$433 million, with 5.3 million transactions, up 51% year-on-year.

According to CCS, during Cyber ​​Monday, Chilean buyers visited more than 250 million times and visited 749 sellers' stores. Travel products, clothing, footwear and accessories, electronics, technology products, home appliances and furniture are the most popular categories among consumers.

The average discount during this promotion was 20%, with sales of beauty products reaching 32%, fashion products also reaching 30%, and medicines and books reaching 27%.

In view of the breakthrough in sales on "Cyber ​​Monday", CCS stated that Chilean e-commerce sales will reach a higher level in 2021 and is positive about the development of Chilean e-commerce this year.

Chile has rich mineral resources, and is truly a country with a mine, so its per capita gross national income exceeds US$15,000. As a result, Chilean e-commerce customers have high unit prices and large profit margins.

At the same time, Chile is highly urbanized, with urban population accounting for over 87.6%. Mature urban construction, roads, air routes and other well-developed logistics infrastructure also provide strong backend support for the development of Chile's e-commerce industry.

According to statistics, the penetration rates of mobile phones and the Internet in Chile are both over 80%, and most consumers have a strong interest in online shopping. As of 2020, the size of Chile's e-commerce market has exceeded US$5.3 billion. The online shopping penetration rate is 58.7%, and it is expected to reach 68.6% by 2024. The e-commerce market has huge potential.

Regarding the user portrait of the Chilean e-commerce market, young and middle-aged people in Chile are the main consumer group. The proportion of online shopping among Chilean men is about 48.8%, while that of women is 51.2%. Chilean consumers prefer cheaper goods and are willing to choose cheaper goods even if the delivery time is longer. Clothing and 3C electronic products are the most popular among Chilean consumers.

Here we suggest that merchants who are interested in entering the Chilean market can refer to past data and select products in a more scientific and targeted manner, which will help increase the chances of explosive sales.

Chile

E-commerce